Nation: A Dialogue On Steel

CONFUSA: The more I listen to the steel debate, the less I seem to
understand. At his press conference last week, President Kennedy spoke
of holding wage increases "within the confines of productivity
gains." What does he mean by productivity?

HONESTUS: In this context, productivity means output per man-hour. If a
given number of steelworkers produce 5% more steel this year than they
did last year, with no change in the time spent on the job, it is said
that their productivity has increased by 5%. Changes in productivity
provide a way of gauging the efficiency of an economic unita company,
an...